OBOR Relationship with South Africa

    This initiative, One Belt and One Road (OBOR), comprises more than physical connections. It aims to create the world’s largest platform for economic cooperation, including policy coordination, trade and financing collaboration, and social and cultural cooperation. Through open discussion, OBOR can create benefits for everyone.

In December 2015 the two countries signed twenty-five agreements worth a combined value of US$16.5 billion at an event at the Forum on China-Africa Cooperation (FOCAC) Business Forum held in South Africa and attended by about 400 business people from both countries. At the same event, the two countries discussed economic priority such as the "alignment of industries to accelerate South Africa's industrialisation process; enhancement of cooperation in Special Economic Zones (SEZs); marine cooperation; infrastructure development, human resources cooperation; and financial cooperation."

In specific, China is South Africa's largest trading partner. They exchange approximately $20 billion in goods a year and China's thirst in South Africa's natural resources has acted as a catalyst for South Africa's economy. The current cooperation relationship for you will be one of the major factors in determining the success of the project. Each side is unique, if you have the right partner it will ensure that all business are carried out successfully and meet the desired outcome. For us to gain from the relationship, we need to be alive to the opportunities it presents and approach each with a constructive and inquisitive attitude.

China seeks to take the interests of all parties into account so as to generate mutual benefits, including environmental management and closer cultural exchanges. We wish to give full play to the comparative advantages of each country and promote all-around practical cooperation.